**Charity registration number 277325** ## **NORMAN COLLINSON CHARITABLE TRUST** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023** ## **NORMAN COLLINSON CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|A Bloomer - Chair| |---|---| ||D Fotheringham| ||B Catton| ||N Everard| ||C Prest| ||R Kelly| ||A Dixon| |**Charity number**|277325| |**Principal address**|Fairfield| ||The Mile| ||Pocklington| ||York| ||YO42 1TW| |**Independent examiner**|David Walker FCA| ||124 Acomb Road| ||York| ||YO24 4EY| |**Investment advisors**|Brewin Dolphin| ||10 Wellington Place| ||Leeds| ||LS1 4AN| ## **NORMAN COLLINSON CHARITABLE TRUST** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Statement of trustees' responsibilities|3| |Independent examiner's report|4| |Statement of financial activities|5| |Balance sheet|6| |Notes to the financial statements|7 - 11| ## **NORMAN COLLINSON CHARITABLE TRUST** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Trust Deed, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". ## **Objectives and activities** The objective of the charity is that the Trustees may pay the income and any part of the capital of the Trust Fund to such lawfully established charities or for such lawful purposes and in such a manner as they in their absolute discretion think fit. A policy has been adopted of generally restricting grants to benefit people in York and district. The Trustees have had regard to Charity Commission guidance on public benefit. The Trustees are all unpaid volunteers. The Clerk receives an honorarium of £8,750 plus VAT (£10,500) each year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** During 2023, the Trust made a total of 91 donations amounting to £46,404. The comparative figures for the previous year are 75 donations amounting to £47,842. |An analysis of the figures shows:|No|£|No|£| |---|---|---|---|---| |Local charities/organisations|||16|14,050| |National charities/organisations|||16|16,500| |Individuals recommended by:||||| |City of York Council|24|6,063||| |Community Links|20|4,346||| |Changing Lives|8|2,061||| |L&Y PFT|8|1,499||| |SASH|1|264||| |Other Agencies|6|1,621||| ||||67|15,854| |Total|||99|46,404| The comparative totals for donations given to individuals in 2022 are 41, amounting to £12,612. A total of 127 applications were received and considered during the year, as compared with 91 in 2022. Of these, 44 were declined (24 from charities/organisations, and 20 from individuals). ## **Financial review** The investment income of the Trust is £127 lower than that in 2022. The value of the funds held have increased by £12,158 to £878,304. This was due to increases on the stock market during 2023 and is after transfers to general funds of £35,000 during the year. The amount of grants decreased by £1,438 to £46,404 in the year. The Trustees have regard to market conditions in setting the amounts of individual grants. Administration and management expenses have remained at a similar level to last year. - 1 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ In line with the Trust Deed there is no minimum level of reserves. However the Trustees have a regular review of the Trust's capital and generated income which is used to fulfil grant making commitments. ## Investment policy The overall aim is to provide both rising capital and income values. The Trustees delegate the fund management duties to independently appointed professional investment managers. A policy is agreed by the Trustees at regular meetings with the professional investment managers. ## Risk Management The Trustees have examined the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to mitigate the exposure to these major risks. ## Plans for future periods The Trust aims to continue assisting individuals and organisations in York and district. ## **Structure, governance and management** The charity was established by a Trust Deed on 5 January 1979 and commenced as a charity on that date. The trustees who served during the year and up to the date of signature of the financial statements were: A Bloomer - Chair D Fotheringham B Catton N Everard J Morley – resigned 18 January 2024 A Bloomer R Kelly A Dixon The power to appoint new or additional trustees is vested in a majority of the existing Trustees by a resolution passed at a duly convened meeting with the necessary quorum. New Trustees are briefed on their legal obligations under charity law, the Trust constitution, the working of the Trust and the decision making processes, together with the recent financial performance and the Trust's financial objectives. If new trustees have not had prior involvement with the Trust as an Associate part of the induction will involve meeting the other trustees. Trustees are encouraged initially to study published Charity Commission guidance regarding the operation of charities. As part of trustee development the attention of trustees is drawn to new guidance as published by the Charity Commission. The Trustees held eleven monthly meetings plus the Annual General Meeting. The attendance was 73%. The trustees' report was approved by the Board of Trustees. .............................. **A Bloomer - Chair** Dated: 12 March 2024 - 2 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 3 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF NORMAN COLLINSON CHARITABLE TRUST** I report to the trustees on my examination of the financial statements of Norman Collinson Charitable Trust (the charity) for the year ended 31 December 2023. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** - I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## **David Walker FCA** 124 Acomb Road York YO24 4EY Dated: ......................... - 4 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2023**|**2022**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Investments|**3**|25,033|25,160| |**Expenditure on:**|||| |Raising funds|**4**|6,167|6,376| |Charitable activities|**5**|59,592|61,141| |Total expenditure||65,759|67,517| |Net gains/(losses) on investments|**9**|53,546|(117,512)| |**Net expenditure and movement in funds**||12,820|(159,869)| |**Reconciliation of funds:**|||| |Fund balances at 1 January 2023||883,658|1,043,527| |**Fund balances at 31 December 2023**||896,478|883,658| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 5 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **BALANCE SHEET** ## _**AS AT 31 DECEMBER 2023**_ |**2023**
**Notes**
**£**
**Fixed assets**
Investments
**11**
**Current assets**
Cash at bank and in hand
21,581
**Creditors: amounts falling due within**
**one year**
**12**
3,407
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Unrestricted funds
The financial statements were approved by the trustees on 12 March 2024.
..............................
..............................
A Bloomer - Chair
N Everard
**Trustee**
**Trustee**|**£**
878,304
18,174
896,478
896,478
896,478|**2022**
**£**
20,808
3,296|**£**
866,146
17,512| |---|---|---|---| ||||883,658| ||||883,658| ||||883,658| ||||| - 6 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **Charity information** The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Fairfield, The Mile, Pocklington, YO42 1TW. ## **1.1 Accounting convention** These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.4 Income** All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - investment income consists of interest and dividends and is included when receivable. - legacy income is recognised when receipt is probable and entitlement is established. - 7 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **1 Accounting policies** ## **(Continued)** ## **1.5 Expenditure** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. ## **1.7 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 8 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **2 Critical accounting estimates and judgements** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. With respect to the next accounting period the most significant area of uncertainty that affect the carrying value of assets held by the trust are the level of investment return and the performance of the investment markets. ## **3 Investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2023**|2022| ||**£**|£| |Investment income receivable|25,033|25,160| ## **4 Raising funds** |||**Unrestricted**|Unrestricted| |---|---|---|---| |||**funds**|funds| |||**2023**|2022| |||**£**|£| ||Investment management|6,167|6,376| |||6,167|6,376| |**5**|**Charitable activities**||| |||**Grants**|Grants| |||**payable**|Payable| |||**2023**|2022| |||**£**|**£**| ||Clerk to Trustees|10,500|10,500| ||Printing, postage and stationery|448|740| ||Website costs|32|-| ||Sundry expenses|235|355| ||Accountancy and Independent Examination fees|1,836|1,704| ||Insurance|137|-| |||13,188|13,299| ||Grant funding of activities (see note 6)|46,404|47,842| |||59,592|61,141| - 9 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **6 Grants payable** |Grants to institutions
Grants to individuals|**Grants**
**payable**
**2023**
**£**
30,550
15,854
46,404|Grants
payable
2022
£
35,230
12,612
47,842| |---|---|---| ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **8 Employees** There were no employees during the year. ## **9 Gains and losses on investments** ||**Unrestricted**|Unrestricted| |---|---|---| ||**funds**|funds| ||**2023**|2022| ||**£**|**£**| |Gains/(losses) arising on:||| |Revaluation of investments|53,546|(117,512)| ## **10 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 10 - ## **NORMAN COLLINSON CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2023**_ ## **11 Fixed asset investments** |**Listed**
**investments**
**£**
**Cost or valuation**
At 1 January 2023 & 31 December 2023
863,876
**Carrying amount**
At 31 December 2023
863,876
At 31 December 2022
863,876
**Creditors: amounts falling due within one year**
Accruals and deferred income|**Cash in**
**portfolio**
2,270
2,270
2,270
**2023**
**£**
3,407|**Total**
**£**
866,146| |---|---|---| |||866,146| |||866,146| |||**2022**
**£**
3,296| ## **12 Creditors: amounts falling due within one year** ## **13 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At**
General funds
**Previous year:**
**At**
General funds|**1 January**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31**
**December**
**2023**
**£**
**£**
**£**
**£**
**£**
883,658
25,033
(65,759)
53,546
896,478
**1 January**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**Gains and**
**losses**
**At 31**
**December**
**2022**
**£**
**£**
**£**
**£**
**£**
1,043,527
25,160
(67,517)
(117,512)
883,658| |---|---| ## **14 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 11 -